Zacks Investment Research upgraded shares of LGI Homes Inc. (NASDAQ:LGIH) from a sell rating to a hold rating in a report released on Thursday morning.

According to Zacks, “LGI Homes, Inc. is engaged in the design and construction of entry-level homes across Texas, Arizona, Florida and Georgia. The company focuses on converting renters of apartments and single-family homes into homeowners by offering homes at affordable locations. LGI Homes, Inc. is headquartered in The Woodlands, Texas. “

Separately, JMP Securities reissued a buy rating on shares of LGI Homes in a research report on Saturday, July 9th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. LGI Homes has an average rating of Buy and a consensus price target of $36.33.

Shares of LGI Homes (NASDAQ:LGIH) opened at 35.39 on Thursday. The firm’s 50-day moving average is $35.68 and its 200 day moving average is $30.11. LGI Homes has a 12-month low of $18.74 and a 12-month high of $40.47. The stock has a market capitalization of $744.00 million, a P/E ratio of 11.69 and a beta of -0.03.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.87 by $0.09. The business earned $222.72 million during the quarter, compared to analyst estimates of $219.52 million. LGI Homes had a return on equity of 24.52% and a net margin of 8.63%. The company’s revenue for the quarter was up 40.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 earnings per share. On average, equities research analysts forecast that LGI Homes will post $3.40 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of LGIH. Macquarie Group Ltd. increased its position in shares of LGI Homes by 31.3% in the second quarter. Macquarie Group Ltd. now owns 31,697 shares of the company’s stock valued at $1,012,000 after buying an additional 7,554 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of LGI Homes by 10.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 56,174 shares of the company’s stock valued at $1,795,000 after buying an additional 5,352 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of LGI Homes by 5.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 11,839 shares of the company’s stock valued at $378,000 after buying an additional 633 shares during the last quarter. AQR Capital Management LLC increased its position in shares of LGI Homes by 0.6% in the second quarter. AQR Capital Management LLC now owns 72,451 shares of the company’s stock valued at $2,314,000 after buying an additional 416 shares during the last quarter. Finally, A.R.T. Advisors LLC bought a new position in shares of LGI Homes during the second quarter valued at $238,000. Hedge funds and other institutional investors own 66.98% of the company’s stock.

LGI Homes Company Profile

LGI Homes, Inc is a homebuilder. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company has five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.

5 Day Chart for NASDAQ:LGIH

Get a free copy of the Zacks research report on LGI Homes (LGIH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for LGI Homes Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LGI Homes Inc. and related companies with MarketBeat.com's FREE daily email newsletter.